Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
Oil Prices Stabilize at Start of 2026 as OPEC+ Policy and Geopolitical Risks Shape Market Outlook 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
Oil Prices Slide in 2025 as Oversupply and Geopolitical Risks Shape Market Outlook 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Elon Musk Says Tesla Cybercab and Optimus Production Will Start Slowly Before Rapid Growth 
Apple Stock Jumps as Company Prepares Major Siri AI Chatbot Upgrade 
OpenAI Launches Stargate Community Plan to Offset Energy Costs and Support Local Power Infrastructure 
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
BitGo IPO Prices Above Range, Raises $212.8M in Landmark Crypto Market Debut 
Rio Tinto Posts Strong Q4 Iron Ore and Copper Output on Operational Recovery 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
Amazon is facing a lawsuit after the U.S. Consumer Product Safety Commission (CPSC) filed a complaint against it. The country’s regulator revealed on Wednesday, July 14, that it had sued Jeff Bezos’ company to force it to recall hazardous products numbering hundreds of thousands.
The items that must be recalled are being distributed on Amazon’s e-commerce site, and the CPSC said that they must be pulled out at once. The US regulator cited serious risks that can lead to an injury or even death as its reason for demanding the recall.
The complaint filed by the CPSC
According to Reuters, the product safety agency voted on whether to sue Amazon or not, and the result was 3-1. This means that more personnel of the CPSC voted to file an administrative complaint against the company.
More people voted as they agreed that the e-commerce firm is legally responsible for recalling the items on its site that posed a serious risk to consumers. The lawsuit was filed for Amazon to accept responsibility for recalling the affected products.
“Today’s vote to file an administrative complaint against Amazon was a huge step forward for this small agency,” Robert Adler, acting chairman at CPSC, said in a press release. “But it’s a huge step across a vast desert - we must grapple with how to deal with these massive third-party platforms more efficiently, and how best to protect the American consumers who rely on them.”
The products that the regulator is asking to be recalled
Based on the report, the CPSC wants Amazon to pull out around 400,000 hairdryers as they do not have the required safety feature against shock and electrocution, 24,000 carbon monoxide detectors that are not functioning well and a good number of children's sleepwear that can catch fire.
Adler said that their agency must grapple with how to tackle these massive third-party platforms more efficiently. He added that they must fight to have the best way to protect the consumers who count on them.
The agency further said that Amazon already took action to address some of the items but what it did was not enough. With the lawsuit, it is hoping that Amazon will comply with its demand and recall the products even if they are being sold by third-party sellers.
